Business interruption

The carrier said its commercial business gave the company a platform to build on.

Experts say cyber ILS offerings including cat bonds could be near, but concerns over structures, modelling and correlation persist.

There is a tension between securing payback and negotiating higher retentions.

The insurer predicts there will be some release from its provision, but it will happen over time and is subject to court proceedings.

Policy holders The Taphouse Townsville and LCA Marrickville, and insurer IAG have each filed applications for special leave to appeal to the Australian High Court.

Even though underlying ILS market conditions are improving, getting a hearing from investors could become harder.

The court upheld decisions made in October, although it reversed some elements of the case between IAG and Meridian Travel.

Investors are increasingly concerned about legislative changes and climate change, but there are drivers for optimism, the consultant said.

Another pandemic outbreak came in fourth place, with 22% of respondents saying they were worried about further health and workforce issues and movement restrictions in 2022.

Personnel turnover and ongoing redevelopment into new areas were the notable themes of the past 12 months.

October storms touched the insurer’s occurrence reinsurance trigger of A$169mn.

Sidecars have lost some of their lustre in recent years but are still generally seen as an efficient diversifier.